Housing Markets Pricing Out Middle Class

The red-hot housing market in booming cities across the country has made the dream of owning a home out of reach, not only for low-income families but also for white-collar professionals.

“Many of the overheated real estate markets throughout the country have become unaffordable for the majority of the population,” said Jack McCabe, a housing industry analyst in Deerfield Beach. “Many people are paying well over 50 percent of their income for shelter. It leaves no money for savings or sometimes even for recreation.”